CEO Leads NRG From Nuclear to Solar, Natural Gas

Soon after the earth shook under Japan last March, NRG Energy Inc. felt aftershocks halfway around the world

When the earthquake triggered a meltdown at the Fukushima Daiichi power plant, the independent power producer was building two nuclear reactors in Texas. Amid regulatory uncertainty in the U.S., the ambitious multibillion-dollar project was halted.

Now, Chief Executive David Crane faces the task of moving Princeton, N.J.-based NRG forward without nuclear energy, one of the primary drivers of its growth. The company has shifted focus to its solar and natural-gas businesses, he says. And solar, in particular, is a bright spot: In December, Warren Buffett’s MidAmerican Energy Holdings purchased a 49% stake in one of NRG’s Arizona solar plants.